Saudi Arabia: Still too early to promise reduced production

Saudi Arabian energy minister Khalid al-Falih says all OPEC members will need to meet before any production cuts can be put on the table.

Photo: Kamran Jebreili / AP Polfoto

It is still too early to say whether OPEC member states and several other petroleum-exporting countries will be able to reach an agreement to reduce their combined oil output, says Saudi Arabian energy minister Khalid al-Falih on Tuesday in an interview with Bloomberg.

Al-Falih expressed that the oil market is characterized by over supply. But he also says that all OPEC members as well as other oil exporters such as Russia and Kazakhstan will need to meet before it will be possible to reduce production.

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